Craig Hallum Begins Coverage on Nextdoor (NYSE:KIND)

Investment analysts at Craig Hallum began coverage on shares of Nextdoor (NYSE:KIND) in a report released on Thursday. The firm set a “buy” rating and a $4.00 price target on the stock. Craig Hallum’s price target points to a potential upside of 60.32% from the company’s current price.

Separately, The Goldman Sachs Group increased their price objective on Nextdoor from $2.50 to $3.00 and gave the stock a “neutral” rating in a research report on Thursday, November 7th.

Nextdoor Stock Performance

Shares of KIND stock opened at $2.50 on Thursday. The company has a market capitalization of $953.44 million, a price-to-earnings ratio of -7.80 and a beta of 1.05. Nextdoor has a 52 week low of $1.52 and a 52 week high of $2.99. The company has a 50-day simple moving average of $2.46 and a 200 day simple moving average of $2.50.

Nextdoor (NYSE:KIND) last issued its quarterly earnings data on Wednesday, November 6th. The company reported ($0.04) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.01. The company had revenue of $65.61 million during the quarter, compared to analysts’ expectations of $62.10 million. Nextdoor had a negative return on equity of 19.42% and a negative net margin of 53.23%. During the same quarter in the previous year, the company posted ($0.10) earnings per share. Sell-side analysts forecast that Nextdoor will post -0.22 EPS for the current year.

Insider Activity

In other news, General Counsel Sophia Schwartz sold 16,834 shares of the stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $2.45, for a total transaction of $41,243.30. Following the sale, the general counsel now directly owns 215,536 shares of the company’s stock, valued at approximately $528,063.20. This represents a 7.24 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Over the last ninety days, insiders sold 20,222 shares of company stock worth $49,679. Corporate insiders own 46.04% of the company’s stock.

Institutional Investors Weigh In On Nextdoor

Large investors have recently bought and sold shares of the company. XTX Topco Ltd bought a new position in shares of Nextdoor in the 2nd quarter valued at $28,000. Xponance Inc. acquired a new stake in Nextdoor in the second quarter valued at about $31,000. Creative Planning bought a new position in Nextdoor in the third quarter valued at about $28,000. R Squared Ltd bought a new position in Nextdoor in the fourth quarter valued at about $45,000. Finally, Savvy Advisors Inc. acquired a new position in Nextdoor during the third quarter worth about $61,000. 35.66% of the stock is currently owned by institutional investors and hedge funds.

About Nextdoor

Nextdoor Holdings, Inc operates a neighborhood network that connects neighbors, businesses, and public services in the United States and internationally. The company enables neighbors and organizations to get information, give and get help, and build connections. It also offers advertising solutions, designs to generate value for businesses for connection and sales expansion.